Board Meeting for Financial Results for the Fourth Quarter and Financial Year ended March 31, 2026
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Gaekwar Mills Ltd reported zero revenue from operations for FY 2025-26, with only Rs 58 lakhs in other income. The company reported a net loss of Rs 945 lakhs, significantly worse than the Rs 442 lakh loss in the previous year. The balance sheet reveals severe financial distress with negative equity of Rs 8,406 lakhs (down from negative Rs 7,460 lakhs) against total assets of Rs 2,552 lakhs. Long-term borrowings stand at Rs 10,388 lakhs. A notable item is Rs 410 lakhs written off as premium on debenture redemption. The company extended redemption dates for its NCDs (Series A Rs 30 crores and Series B Rs 5 crores) to March 31, 2028, with additional redemption premiums. The auditor issued an unmodified (clean) opinion despite these concerning financials.
The stock shows extreme financial distress with zero operating revenue, negative equity exceeding Rs 8,400 lakhs, and debt of Rs 10,388 lakhs far exceeding assets. Shareholders face extreme risk as the company's net worth is deeply negative and continuation as a going concern appears questionable despite the clean audit opinion.